Victoria’s Secret says goodbye to its angels: cancels annual show

No more wings for Victoria’s Secret angels. The American lingerie company, owned by L Brands, has confirmed that it’s shutting down its traditional fashion show to refocus the strategy of the brand.

Stuart B. Burgdoerfer, chief financial officer and vice president of L Brands, stated in a conference call with analysts that the group is “figuring out how to advance the positioning and best communicate that to customers.”

This happens after Ed Razek, chief marketing officer of the group left his position last August after saying no to inclusion of transgender models in the fashion show. The executive had been more than fifteen years in the company.  

The company, that presented yesterday its third quarter results, has ended the period with a net loss of 252 million dollars, compared to the loss of 42.8 million dollars year-on-year. On the other hand, sales dropped 2% in the third quarter, mainly due to the weak performance of the Victoria’s Secret brand.